‘Excellent’ rating for UK War Risks
The UK War Risks Club announced the affirmation of its A- ‘Excellent’ financial strength rating with a ‘Stable’ outlook from the insurance rating agency AM Best. Club Manager Andrew Ward welcomed this confirmation of the Club’s financial rating: “The continuing ‘Excellent’ rating by AM Best re-affirms the UK War Risks Club’s financial strength and stability. Despite the volatility of this sector, the UK War Risks Club continued its policy of returning premiums to Members at the 2014 renewal…
Coast Guard saves 4 after boat capsizes
Four people were rescued by a Coast Guard Station Port O’Connor boat crew approximately one and half miles outside the Matagorda Jetties. At approximately 9:30 p.m., a 911 dispatcher called the Coast Guard to pass that four people had been capsized in their 17-foot pleasure craft after it was hit by a 6-foot wave. The four people were able to cling to the hull of the boat and one of the survivors had a waterproof case on his phone, which allowed him to call 911.
French President Gathers Ministers To Discuss Alstom's Case
French President Francois Hollande gathered ministers on Sunday evening to discuss the case of struggling engineering firm Alstom, with jobs, location of activities and energetic independence in mind, his office said in a statement. The French government and Germany's Siemens intervened in U.S. giant General Electric's plan to buy Alstom's power arm earlier on Sunday by offering an alternative tie-up between European "champions" and a pledge to act in France's national interest.
Libyan's Zueitina Port To Open After Damages Assessed
Libya's eastern oil port of Zueitina, which had been occupied by rebels as part of an eight-month oil blockade, will reopen after damage at its facilities has been assessed…
Qatar's Nakilat Q1 Profit Rises 17 Pct
Qatar Gas Transport Co (Nakilat), the Middle East's largest shipper of liquefied natural gas, reported a 16.6 percent rise in first-quarter profit on Sunday. The firm made a profit of 206.3 million riyals ($56.66 million) in the three months to March 31, up from 177 million riyals in the year-earlier period, according to a statement to Doha's bourse. QNB Financial Services had forecast Nakilat would make a quarterly profit of 205.6 million riyals.
Siemens Weighs In As GE Prepares Alstom Power Deal
Alstom's arch rival Siemens wants talks with the struggling French engineering group, the German company said on Sunday, the day General Electric boss Jeff Immelt…
South Korean PM Resigns Over Ferry Disaster
South Korean Prime Minister Chung Hong-won resigned on Sunday over the government's response to the April 16 ferry disaster. The Sewol ferry sank on a routine trip…
French Government Will Block Hasty Alstom Deal
France's Economy Minister Arnaud Montebourg confirmed for the first time on Sunday that both General Electric and Siemens were interested in engineering group Alstom…
Slovakia agrees To Ship Limited Gas To Ukraine
Slovakia and Ukraine have reached an agreement on opening up limited capacity for reverse flow of natural gas from central Europe to Ukraine and will sign the deal on Monday, the Slovak Economy Ministry said on Saturday. Ukraine is trying to secure alternative supplies to those from Russia's Gazprom since Russia annexed Crimea last month and Gazprom nearly doubled prices for its gas to levels Ukraine is refusing to pay.
ExxonMobil Marks World Malaria Day With $10 Mln Grant
programs across Africa and in the Pacific Rim, where the disease is a major threat to health and economic development. The grants from ExxonMobil and the ExxonMobil Foundation will support a wide range of research, advocacy, treatment and prevention programs to accelerate progress in the fight against malaria, which still claims more than 627,000 lives each year, mostly children under the age of five.
Computer Game By Maersk to Spark Interest in Science
This week the Maersk Group launches a computer game and teaching materials about oil exploration and oil production for Danish secondary schools, technical colleges and higher preparatory examination courses. The materials are available free of charge. More than 340,000 players have already tried the oil exploration game via www.QuestforOil.com. The game provides an insight into the global oil industry and the various elements of oil exploration…
New terminals inaugurated in North Brazil
Two new grain - and oilseed-loading terminals have been inaugurated at Miritituba and Barcarena in the northern Brazil state of Para. Together, they are expected to increase the country's export capacity by 4 million tons per year. This year, the new terminals will handle about 2.5 million tons, mostly soy, and they are expected to be operating at full capacity next year. Brazil's soy harvests have been growing each year…
Cargo traffic at 12 Indian major ports up by 1.78%
Indian Ports Cargo traffic at 12 major ports in the country recorded a marginal increase of 1.78 per cent at 555.50 million tonnes (MT) during 2013-14.The cargo…
KVH Industries to Host Q1 Conference Call on April 30
KVH Industries, Inc., (Nasdaq: KVHI) will announce its financial results for the first quarter that ended March 31, 2014, on Wednesday, April 30, 2014. In conjunction with the release, the company will conduct its investor conference call at 10:30 a.m. ET, hosted by Mr. Martin Kits van Heyningen, chief executive officer, and Mr. Peter Rendall, chief financial officer. A live broadcast of the call will be available online at investors.kvh.com.
Slovakia & Ukraine agree on Reverse Gas Flow
Slovakia and Ukraine have reached an agreement on opening up limited reverse flow of natural gas from central Europe to Ukraine and will sign the deal on Monday, the Slovak Economy Ministry said on Saturday. Ukraine is trying to secure alternative supplies to those from Russia's Gazprom since Russia annexed Crimea last month and Gazprom raised prices for its gas to levels Ukraine is refusing to pay.
Wood Group awarded $12Mln Operations & Maintenance Contract by Apex
Wood Group GTS and Apex Bethel Energy Center, LLC (“Apex”) have signed a three-year operations & maintenance (O&M) agreement for the Bethel Energy Center. Under the $12 million contract, Wood Group GTS will be responsible for care, custody and control of the facility when it begins commercial operation in 2017. Construction is soon to begin for the plant in East Texas, which will utilize compressed air energy storage (“CAES”) technology.
Total's Intelligent AUV by 2016
To improve the monitoring of subsea installations Total and Chevron have tasked a team of a dozen researchers for building an Autonomous Underwater Vehicle (AUV) by 2016.The intelligent submarine will be capable of inspecting wellheads and pipelines over tens of kilometers, in 3,000 meters of water. It would also be capable of detecting anomalies independently, providing real-time warnings and transmitting large amounts of data.
Russia, Consumer States Discuss Gas Supply Via Ukraine
Russia's Energy Minister and the head of Gazprom discussed gas supplies via Ukraine with representatives of consumer countries Bosnia, Macedonia and Moldova on Saturday, Interfax news agency quoted the ministry as saying. Participants in the Moscow talks, including Russian Energy Minister Alexander Novak and Gazprom chief Alexei Miller, expressed concern that payment problems could result in a fall in the amount of gas crossing Ukraine to countries in south-eastern Europe.
OSCE Team To Ukraine To Free Detainees
The Organisation for Security and Cooperation in Europe (OSCE) has dispatched a negotiating team to try to secure the release of observers being held by pro-Russian separatists in eastern Ukraine, a German government source said on Saturday. "A negotiating team from the OSCE is on the way to the region," said the source, declining to give further details, including exactly where they were heading. (Reporting by Sabine Siebold; Writing by Madeline Chambers; Editing by Victoria Bryan)
Ferry Tragedy: Boy Who Raised Alarm Had No Time To Call Parents
The frightened boy who first raised the alarm that a South Korean ferry with hundreds on board was sinking did not have time to call his parents, his father said…